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of the term "any lawful merchandise/' but the radius of
trading is inserted. Radius of trading is usually very broad,
and a term similar to "World-wide radius, ice-bound ports
excepted" may be the only reference to this point.

7.  Position of the vessel. For voyage charters.  A state-
ment which must be perfectly correct in detail.   If the
owner states that the ship is "now at Antwerp," and it is
proved later that the vessel was not at Antwerp, charterers
may claim cancellation of the charter-party.   In a time
charter the date when the steamer will be ready is given in
place of the above clause.

8.  Remuneration.  For voyage charter-parties freight is
paid on the amount carried, but for time charters the pay-
ment is by hire for the period of the engagement,

9.  Lay days and how they count. This clause applies only
to voyage charter-parties, as an owner is not concerned with
the time that a vessel on time charter spends in loading and

10.  Days of demurrage and dispatch and the rate.   The
preceding explanation also applies to this clause. Should
a vessel load and/or discharge in less than the prescribed
time, owners of a steamer pay dispatch money as a "re-
ward*' for time saved. If, on the other hand, the time
allowed is exceeded, then demurrage is payable at an
agreed rate to the owner as "compensation" for lost time.

u. Brokerage clause.  States the rate of brokerage that
shall be paid.

12.  Lien clause.  Giving owners of the vessel a right to
hold cargo against payment of freight, or hire.

13.  Act of God clause. This is identical with the clause to
be found in the Carriage of Goods by Sea Act, 1924, and
has the same application.

14.  Exemptions from liability clause. This clause includes
many occurrences from which owners r^aim exemption, and
as the Carriage of Goods by Sea Act does not apply, there
is no restriction. A few of these exemptions areó

Barratry. Any wilful wrongdoing of the master and/or
the crew without the connivance of the owners. Actions